Summary
TLDR: Former Amazon engineer Shakeeb Ahmed sentenced to 3 years in prison for hacking two DeFi cryptocurrency exchanges and stealing over $12 million. He used his knowledge in reverse engineering and blockchain audits to manipulate smart contracts. He engaged in sophisticated laundering techniques to obscure the origins of the stolen funds. Ahmed must forfeit the stolen assets and pay restitution to the affected exchanges.
Key Points
1. Former Amazon engineer Shakeeb Ahmed was sentenced to three years in prison for orchestrating hacks on two DeFi cryptocurrency exchanges, resulting in over $12 million theft.
2. Ahmed utilized his extensive knowledge in reverse engineering and blockchain audits to manipulate smart contracts on the exchanges, marking the first-ever conviction for hacking a smart contract.
3. In addition to prison time, Ahmed has been ordered to forfeit around $12.3 million in stolen assets, pay restitution exceeding $5 million to the affected exchanges, and undergo three years of supervised release post-incarceration.